Amphastar Pharmaceuticals, Inc.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

AMPH$29.06-1.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)


· · Year Ended December 31,
· 2025 · · 2024 · · 2023
Cash Flows From Operating Activities:
Net income	$98,094	$159,519	$137,545
Reconciliation to net cash provided by operating activities:
Loss on disposal of assets	39	9	475
Impairment of long-lived assets	—	—	2,700
Loss (gain) on interest rate swaps and foreign currency transactions, net	2,492	(2,792)	5,330
Depreciation of property, plant, and equipment	31,647	28,249	25,205
Amortization of intangible assets	25,048	24,718	12,830
Operating lease right-of-use asset amortization	6,506	4,238	3,742
Amortization of discounts, premiums, and debt issuance costs	3,355	6,032	11,399
Equity in losses of unconsolidated affiliate	—	573	1,981
Share-based compensation expense	27,277	24,368	20,242
Changes in reserve for uncertain tax positions	(1,032)	891	(1,159)
Changes in deferred taxes, net	28,660	(17,872)	(12,578)
Changes in operating assets and liabilities:
Accounts receivable, net	(6,367)	(21,671)	(26,086)
Inventories	(21,063)	(48,797)	(1,724)
Prepaid expenses and other assets	(3,530)	(10,726)	(2,728)
Income tax refunds, deposits, and payable, net	(24,843)	6,834	(3,319)
Operating lease liabilities	(5,609)	(3,750)	(3,589)
Accounts payable and accrued liabilities	(4,559)	63,563	13,237
Net cash provided by operating activities	156,115	213,386	183,503

Cash Flows From Investing Activities:
BAQSIMI® acquisition	—	(129,000)	(506,406)
Purchases and construction of property, plant, and equipment	(34,882)	(41,041)	(38,166)
Purchase of intangible assets	(2,250)	—	—
Purchase of investments	(119,130)	(76,792)	(144,556)
Maturity of investments	90,291	126,022	38,622
Deposits and other assets	(4,361)	(4,119)	1,390
Net cash used in investing activities	(70,332)	(124,930)	(649,116)

Cash Flows From Financing Activities:
Proceeds from equity plans, net of withholding tax payments	2,855	(4,849)	10,974
Purchase of treasury stock	(75,586)	(85,458)	(58,144)
Debt issuance costs	(687)	(816)	(25,079)
Proceeds from borrowing under lines of credit	6,216	18,433	—
Proceeds from issuance of long-term debt	—	—	845,000
Principal payments on long-term debt	(223)	(8,263)	(318,658)
Net cash provided by (used in) financing activities	(67,425)	(80,953)	454,093

Effect of exchange rate changes on cash	210	(190)	(282)

Net increase (decrease) in cash, cash equivalents, and restricted cash	18,568	7,313	(11,802)

Cash, cash equivalents, and restricted cash at beginning of period	151,844	144,531	156,333

Cash, cash equivalents, and restricted cash at end of period	$170,412	$151,844	$144,531

Noncash Investing and Financing Activities:
Deferred payment for BAQSIMI® acquisition	$—	$—	$121,699
Capital expenditures included in accounts payable	$7,741	$5,622	$4,454
Operating lease right-of-use assets in exchange for operating lease liabilities	$2,537	$18,804	$10,521

Supplemental Disclosures of Cash Flow Information:
Interest paid, net of capitalized interest	$23,218	$26,811	$17,573
Income taxes paid	$22,710	$40,104	$49,001

See accompanying notes to consolidated financial statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.